Western Europe

Istithmar to buy $950 million Barneys(3)

Clothing company Jones Apparel Group is in talks to sell luxury department store Barneys New York to Istithmar for $950 million (€714 million). The Dubai-based firm has been active in the New York real estate market lately.

Hellman & Friedman taps Intuit exec(2)

San Francisco-based Hellman & Friedman is furthering the trend for private equity firms to hire partners with operations backgrounds.

Lyceum completes eighth bolt-on for National Britannia

Lyceum Capital had made an eighth bolt-on acquisition for National Britannia Group, a health and safety consultancy, as the industry looks set to become a £1 billion market in the UK by 2010.

Heavyweights weigh in on PE

Private equity dominated discussions in the US this week, as high-ranking government officials, superstar investors and senior executives commented on the building tax controversy confronting the industry, as well as the longevity of the so-called buyout boom.

ABN bolts on Manrose to Volution

ABN Amro Capital has made the first step in its buy and build strategy for ventilation company Volution, with the bolt-on acquisition of UK competitor Manrose Manufacturing.

Duke Street draws first blood in dentist battle(2)

UK-listed Oasis Healthcare’s board has accepted Duke Street Capital’s £76.9 million offer for the company. However, the deal could yet come under threat, after trade rival ADP Healthcare Services said it may submit a competing offer.

FSA criticises private equity(3)

The British Venture Capital Association has welcomed a report by UK regulator the Financial Services Authority, despite it pointing to market abuse, conflict of interest and overt leverage risks within the industry.

Lehman launches fund of funds IPO

The US investment bank with $18 billion in unlisted investments, is the latest private equity operator looking to take advantage of the private equity boom by creating a permanent capital vehicle.

London VCs invest $8m in Daylife

New York-based news aggregation site Daylife has raised $8 million from two UK venture capital firms, in the latest example of US start-ups taking funding from VCs based in London rather than Silicon Valley.

Cerberus sought to bail Japan’s JVC(3)

Kenwood, a Japanese maker of audio equipment may reportedly seek financial backing from Cerberus to bid for JVC, a Japanese consumer electronic brand that TPG had been keen to acquire. Talks between TPG and JVC parent Matsushita are believed to have collapsed.